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SEC’s Threat to Elon Musk Raises Alarm for Smaller Businesses

SEC’s Legal Ultimatum: The SEC has threatened Elon Musk with legal action unless he agrees to a settlement within 48 hours. This has triggered a backlash within the cryptocurrency community, which accuses SEC Chair Gary Gensler of political bias.

Impact on Smaller Firms: John E. Deaton highlighted the disproportionate pressure on smaller businesses compared to billionaires. He argued that such aggressive tactics from the SEC can damage businesses that lack the necessary legal resources to defend themselves.

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